MONTABAUR, GERMANY - Rigid films producer Klockner Pentaplast GmbH might be sold by its new owner. WCM Beteiligungs- und Grundbesitz AG is restructuring Klockner-Werke AG's management board and is reviewing Klockner-Werke's earlier plan to sell noncore businesses but to keep Klockner Pentaplast.
WCM of Frankfurt, Germany, acquired a majority of Klockner-Werke shares in January. At that time, it indicated it agreed with Klockner-Werke's plan to sell its packaging and filling machinery businesses and focus on rigid films. Officials were unavailable to explain why WCM is rethinking that strategy.
Klockner Pentaplast of America Inc. President Tom Goeke said the films business is profitable and growing. The restructuring and possible change in strategy won't affect customer service, he said in a May 23 news from the Gordonsville, Va., company. Klockner Pentaplast is a major producer of rigid and barrier films for pharmaceuticals, medical uses, thermoformed packaging and specialty applications.
Management board Chairman Heinz-Ludwig Schmitz and Chief Financial Officer Siegfried Barschkett will leave Duisburg, Germany-based Klockner-Werke at the end of July. Franz-Josef Seipelt, a director of Klockner-Werke, will succeed Barschkett, but Schmitz will not be replaced.
Early this year, Montabaur-based Klockner Pentaplast expanded its barrier films business by acquiring a rival German operation, the polyvinylidene dichloride coated films business of VAW Aluminium AG.